Coinbase to List Binance’s BNB Token for the First Time
Coinbase plans to list BNB, the native token of Binance Smart Chain, marking its first support for an asset from a major competitor. BNB deposits must be made via the BNB Smart Chain network only.
- Trading for the BNB-USD pair will commence once liquidity conditions are met in approved regions.
- BNB will be available on Coinbase.com, the Coinbase app, and Coinbase Advanced, with institutional access via Coinbase Exchange.
This decision ends the longstanding tension between Coinbase and Binance, highlighting a shift towards platform neutrality. The inclusion of BNB, the fourth-largest cryptocurrency by market cap, follows the introduction of perpetual futures for BNB on Coinbase's international platform.
- Coinbase aims to enhance global appeal and increase user access despite competition.
- The listing could boost BNB’s legitimacy in US markets and diversify its liquidity.
This move may indicate a broader trend toward interoperability among major exchanges, prioritizing user access and liquidity over rivalry.